Data base technology for marketing financial services is being developed by Nagdeman & Co., a consulting firm in New York.
The technology, called Pentrack, uses the information that the bank already has about a customer's transaction history to gain insights about future needs and product preferences.
The data base is designed to determine who are the best customers in target markets, augment prospect data bases with demographic data, and monitor results. Customer files are combined and organized for analysis into a multilevel data base. For example, the program groups individuals into households to reflect entire relationships.
Using technology and consulting, Nagdeman claims it will help determine the reasons a product is not selling, pinpoint which products to cross-sell to which market sectors, and implement a retention program to stem losses.
For treasury managers who must keep track of several hundred bank accounts and the many people authorized to sign on the accounts, DataCheck Software Inc. has introduced a data base system to help streamline the internal clerical work. Traditionally, this time-consuming task has been done manually, often resulting in delays between changes in accounts and notification of the appropriate bank.
The system maintains a data base of each bank account, each authorized signatory, and a cross index between the bank account and the signatories, along with pertinent data such as signing limits.
The system interfaces with a desktop scanner to allow the scanning and capture of the digitized graphic image of the authorized signatures for the accounts. When there are changes to the account, the system automatically generates a new signature card.
The list price for the Windows-based system begins at $4,995. DataCheck is an Atlanta-based software firm.
NSS Corp. Starts
A Support Group
NSS Corp., a provider of branch automation services for banks, formed a support group to train bank staffs and boost sales and productivity. The Performance Support Group, which previously offered services only to users of the company's branch automation systems, will be available separately.
A study done by the Bedford, N.H.-based company indicated that 28% of the financial institutions surveyed about training plans for next year said sales training would be the primary focus.
The support group's focus will include new systems training and support, sales and marketing, customer service, product training, management, coaching, and general skills development. The training can be provided by an instructor or through a computer.
International Verifact Inc., which supplies technology for the point of sale and electronic funds transfer market, introduced a line of terminals to process personal identification numbers at the point of sale. The Sentinel and Sentinel Plus personal identification number pads interact with all POS terminals, without any software or programming changes.
The pads support both current data encryption standards, called Master Session or DUKPT (derived unique key per transaction) security. Master Session uses an internal algorithm with a coded variable for each institution. It requires new variables to be put in the system manually by the host.
The variables remain the same and are seldom changed. DUKPT security, which many expect to be the industry standard in the future, creates a new variable at both the host and the PIN pad for each new transaction. The Sentinel line processes both.
International Verifact is based in Scottsdale, Ariz.
Two PC Products
M&I Data Services Inc. has introduced two PC-based products. The first, Sales-partner, interfaces directly with the M&I Integrated Banking System, allowing branch personnel to examine demographic and account information on-line. It is designed to simplify compliance with Regulation DD as well as cut down the time that branch employees devote to filling out forms to perform sales activities.
M&I's new Executive Information System assists senior managers in monitoring banking activities. It tracks fee income and operating costs as well as performing variance analysis. It is designed to run with M&I service bureau products but can be configured to run with any other application system.
M&I Data Services is a wholly owned subsidiary of Marshall & Ilsley Corp., a $7.8 billion-asset bank holding company. Both institutions are based in Milwaukee.
Sells profit Gauge
Sendero Corp. and Greenwich Software & Consulting Group have formed an alliance to develop and market profitability measurement systems.
Their first product, Sendero Par, is a PC-based system that handles both product and organizational profitability measurement. It provides transfer pricing of services and funds.
User-defined rules permit allocations of statistical data to an unlimited range of centers and products.
Based in Scottsdale, Ariz., Sendero Corp. is a wholly owned subsidiary of Fiserv Inc. Greenwich Software & Consulting is located in Greenwich, Conn.
Infinity International Financial Technology Inc. has announced that its Montage product line is now available to run in a range of computer environments. Montage products include applications for trading and risk management, which come with software kits that provide a platform for custom development.
Infinity International Financial Technology is based in Mountain View, Calif.
Two Data Feeds
Prebon Yamane UK Ltd. is providing New York-based Knight Ridder with two new information data feed services. The Prebon Yamane package includes a public data information feed covering foreign exchange, interest rate options, interest rate swaps, and other areas relating to the international markets.
It is being offered free of charge to approved users. The Prebon Yamane Money Markets and Capital Markets Data Feed is an optional service, with data updated directly from the Prebon trading system in London. This optional service costs $100 month for the first user and $70 for any subsequent users at the same site. The two services provide information on over 1,900 instruments.
Archer Management Services, a New York firm that provides third-party services to the financial services industry, is offering outsourcing for record management.
Using bar code technology to store documents and retrieve them, Archer keeps the records, such as a bank's 401(k) plans, off-site. Bank employees can retrieve needed paperwork by putting in a request via a number of platforms, including personal computers, personal computer networks, and mainframes.
Safeguards control access to the documents and track the status and history of all circulating and archived files. Files can be marked for automatic archiving after they have not been used for a specified period.
PC Voice System
Phoenix-based Syntellect Inc. has introduced BankWorks, a PC-based voice processing product designed to run on VocalPoint, Syntellect's voice processing platform.
BankWorks offers the full range of telephone banking modules, including ones that cover credit cards, loan accounting, and deposit activity.
BankWorks modules range in price from $5,000 to $9,000, with discounts for purchasing two or more modules.
Computer Software Specialists Inc., developers of mortgage origination software, have introduced a module that enables lenders to comply more easily with Home Mortgage Disclosure Act reporting requirements.
When a user enters a mortgage application into the Computer Software Specialists' loan processing system, the module automatically looks up and records the census tract property information.
Each year lenders are required to provide the government with accurate property tract information. This on-line facility eliminates the need to look up tract numbers in books. The module can be purchased in pieces that offer data about particular geographic areas.
Computer Software Specialists is based in Carver, Mass.